A $1000 face value, 6.8% coupon, Province of Ontario bond with 18 years to run until maturity

Question:

A $1000 face value, 6.8% coupon, Province of Ontario bond with 18 years to run until maturity is currently priced to yield investors 6.5% compounded semiannually until maturity. How much lower would the bond’s price have to be to make the yield to maturity 7% compounded semiannually?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: